Which of the following items is not likely an extraordinary item?
A)Write down of inventories.
B)Condemnation of property by the city government.
C)Loss of use of property due to a new and unexpected environmental regulation.
D)Loss due to an unusual and infrequent calamity.
E)Expropriation of property by a foreign government.

Question

Quizplus · Accepted Answer

Write down of inventories is not considered an extraordinary item because it is a common business occurrence and does not meet the criteria of being both unusual and infrequent.

Which of the Following Items Is Not Likely an Extraordinary